How to Farm 28%+ Yield on Aster Perps Without Directional Risk (Delta-Neutral Funding Strategy)

Aster’s perpetuals market is currently in heavy contango, with longs paying shorts +0.076% every 8 hours — that’s 28.1% annualized for pure funding collection.

This is one of the cleanest, lowest-risk yield strategies in DeFi right now. No directional bets, no liquidation risk, just collecting payments from over-leveraged longs while staying market-neutral.

In this guide, we’ll break down the exact mechanics, step-by-step execution, and why this setup works in November 2025. Anyone with $1k–$1M can copy it in under 5 minutes.

The Mechanics: Why Aster Funding is Printing Right Now

Aster’s perp market is structurally long-heavy, with OI (open interest) at $520M (ATH) and daily volume at $1.42B. Whales are piling into AST/BTC/SOL longs expecting Solana’s Q4 rally, but this creates the perfect funding arb.

The core idea:

• Short AST perps on Aster (collect funding from longs)
• Long AST spot on Meteora (hedge the directional risk)
• Rebalance delta every 48 hours → net flat exposure, pure funding yield

Current setup (November 24, 2025):

• 8h funding rate: +0.076% (longs pay shorts)
• Annualized: 28.1% APR
• OI: $520M (up 240% since September)
• TVL: $260M (Meteora AST pools up 380% in 30 days)
• Slippage: 0.29% for $1M SOL-PERP (deepest on Solana)

This isn’t theoretical — it’s live on-chain. Cumulative funding paid to shorts on Aster since October: $28.4M.

Step-by-Step: Copy This Strategy in 5 Minutes

1. Fund Your Aster Account

• Go to Aster DEX (use this link for 10% fee rebate + airdrop points)
• Connect your Solana wallet (Phantom, Backpack, etc.)
• Deposit USDT or SOL (start with $1k–$10k for testing)

2. Open the Short Perp Position

• Navigate to Perps → AST/USDT pair
• Switch to Pro Mode (for precise leverage)
• Short AST/USDT with 5–10x leverage (e.g., $10k margin for $50k–$100k notional)
• Entry price: Current spot (~$1.237)
• Hold for at least 8 hours to collect first funding payment

3. Hedge with Spot Long on Meteora

• Open Meteora DLMM pool (Aster’s liquidity partner)
• Buy equal notional AST spot (e.g., $50k–$100k worth)
• Choose the tightest bin for minimal impermanent loss
• This hedges your perp short → net delta ~0.03 (essentially flat)

4. Monitor & Rebalance

• Check delta every 24–48 hours on Aster dashboard
• If delta > 0.1, rebalance by adjusting spot or perp size
• Funding payments auto-accrue to your wallet every 8 hours
• Weekly PnL: Expect +0.5–0.8% from funding alone

5. Exit When Funding Turns Negative

• Monitor 8h rate — if it flips to -0.05% or lower, unwind
• Close perp short, sell spot long → pocket the yield
• Current horizon: 3–6 months (until Solana rally flips the funding)

Why This Works in November 2025 (On-Chain Data)

Aster’s perp market is in extreme contango:

• Funding skew: +0.076% / 8h → longs over-leveraged, shorts get paid
• OI skew: 72% long / 28% short → structural imbalance
• Volume skew: 68% retail longs → whales quietly shorting for funding

Compare to competitors:

• Drift: +0.019% funding (weaker arb)
• Hyperliquid: -0.008% funding (shorts paying longs — avoid)

Aster’s insurance fund ($41M) and TVL ($260M) mean zero liquidation risk for hedged positions.

Risk Management (Don’t Skip This)

• Delta drift: Rebalance if >0.1 (use Aster’s built-in calculator)
• Impermanent loss: Meteora DLMM bins minimize this (<0.5% over 48h)
• Funding flip: Exit if rate turns negative (set alerts on Aster app)
• Counterparty: Aster’s orderbook is fully on-chain, MEV-resistant

Start small ($1k) to test — scale once comfortable.

Get Started with Aster — Bonus Rewards + Referral

Trade on Aster with this referral for:

• 10% lifetime fee rebate
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→ https://www.asterdex.com/en/referral/6814be

Published: November 24, 2025
Categories: aster, solana
Tags: Aster, funding rate, delta neutral, yield farming, perps strategy